XRP price has posted its lowest daily close of 2026 amid ongoing selling pressure as the coin lags behind Bitcoin.
While a short-term bounce remains possible, technical analysts say the overall downtrend is still intact.
According to TradingView data, XRP closed at $1.027 on Aug. 6, its weakest daily close of the year. Notably, the token briefly dipped to $1.009 on June 26 but recovered before the daily candle closed.
At press time, XRP was trading around $1.02, putting a breach below the psychological $1 level back in focus. For context, a break below it would mark XRP’s first move under $1 since November 2024.
Expects a Relief Bounce
Technical analyst ChartNerd highlighted the milestone on X. The analyst noted that XRP has returned to the June low region after repeated rejections at key moving averages.
According to ChartNerd, XRP has been rejected at the 50-day exponential moving average (EMA) in eight of the past 10 weeks. More recently, the token also failed to reclaim the 20-day EMA, helping drive the latest drop toward $1.01.
The daily chart also shows XRP breaking below an ascending support trendline before revisiting a gray demand zone near the June lows. Even so, ChartNerd believes the current support area could trigger a short-term rebound.
“Highly likely we witness a decent bounce here,” the analyst wrote. However, he expects any recovery to be a relief rally, not the start of a lasting trend reversal.
XRP Still Losing Ground to Bitcoin
In a separate post, ChartNerd argued that XRP looks even weaker against Bitcoin. The analyst said XRP has fallen nearly 17% against BTC since mid-June. In ChartNerd’s view, that underperformance is likely to continue through the rest of the year.
The analyst also urged traders to respect the ongoing pattern of lower highs until the market confirms a structural breakout.
ChartNerd made the comments while responding to market commentator Jake Claver, who suggested XRP could briefly break below support before staging a rally, similar to previous market cycles.
ChartNerd disagreed. He argued that XRP is more likely to continue lagging behind Bitcoin following a recent breakdown in market structure.
Stronger demand, the analyst added, appears to be waiting at lower price levels. Historically, those areas have preceded periods of XRP/BTC outperformance and stronger XRP/USD rallies.
For now, XRP remains at a key technical level. Traders are watching whether support around $1.01 can hold. If it fails, the token could fall below $1 for the first time in nearly two years.
XRP/BTC Price Action
XRP’s price dipped by 0.81% over the past day, worsening its monthly performance to a 4% decline and its year-to-date performance to 45.42%. Meanwhile, Bitcoin gained 0.33% over the past day, with positive monthly gains of 4.64%.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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